According to him new Ericsson report, published under the title "2016 Ericsson Mobility Report", the Internet of Things (IoT) will continue to grow rapidly in the coming years. The report forecasts a compound annual growth rate of 23% from 2020 to 2021 for this sector and everything seems to indicate that the IoT could unseat mobile phones as the category with the highest number of connected devices in 2020.
According to the Ericsson report, the increase in the number of connected devices is due to new applications and emerging business models, combined with a drop in the cost of devices.
Currently, mobile phones are still the category with the largest number of connected devices, but the situation could change very soon, due to the increase in connected vehicles and machines, connected appliances, utility meters and remote metering.
Some Figures from Ericsson's report on IoT:
- IoT devices will grow with a 23% compound annual growth rate from 2020 to 2021, thanks to the discovery of new uses and applications.
- If this growth rate is met, IoT is expected to overtake mobile devices in number of connected devices in 2020.
- In total, it is anticipated that there will be around 28,000 million connected devices in 2021, of which close to 16,000 million will be related to the IoT.
- Too By 2021, 1.5 billion IoT devices will be tied to a mobile subscription (a notable increase from 400 million in 2020). This growth will be related to increased industry attention and 3GPP standardization of cellular IoT technologies.
- Western Europe will be the region that will see the largest increase in the number of devices of the IoT in the coming years; According to forecasts, the number will practically quadruple from 2020 to 2021, mainly due to the increase in connected cars.
- Still, the region Asia Pacific will continue to lead in number of devices in 2021, followed by Western Europe in second position and North America in third.
The report also highlights that, Within the IoT, two main market segments are emerging with different requirements:
- Massive applications: Massive IoT connections are characterized by high connection volumes, low cost, low power requirements, and small volumes of data traffic. Some examples are smart buildings, transport logistics, fleet management, smart meters or agriculture.
- Critical applications: Critical IoT connections are characterized by requiring ultra-reliability and availability, with very low latency. Some examples are traffic safety, autonomous vehicles, industrial applications, remote manufacturing or remote healthcare, including remote surgery.
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